Apollo Global (APO) has offered a $64 per share bid for Papa John’s (PZZA) as talks between the two sides have moved to a more advanced stage, a source told Street Insider. A potential deal could be just a few weeks away if talks continue to progress, the source is said to have added. In afternoon trading following the report, shares of the pizza chain operator are up $3.59, or 9%, to $45.18.
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